The leading exploration company in India, Oil and Natural Gas Corp, has agreed to explore deep-water blocks with French multinational Total Energies, the company tweeted. India, the third-largest oil importer and user in the world, imports more than 85% of its oil. To lessen its reliance on expensive imports, the nation aims to immediately monetize its oil and gas resources. The goal of the MoU is to offer technical support for ONGC’s efforts to investigate and lower greenhouse gas emissions in the development of deep-water blocks, particularly in the Mahanadi and Andamans, off the east coast of India. “We will jointly evaluate Exploration and Development opportunities to create synergies with local economies,” said Sushma Rawat, ONGCs’ Director for Exploration.

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